Industrial activity in Mexico grows by 0.4 percent in June

(MENAFN) On Friday, Mexico's National Institute of Statistics and Geography (INEGI) reported that the country’s industrial activity expanded by 0.4 percent in June, based on seasonally adjusted figures compared to the previous month. This growth slightly exceeded market expectations, which had anticipated a 0.3 percent increase. However, it was a deceleration from the more robust 0.7 percent expansion recorded in May.

The June growth was primarily driven by a strong performance in the manufacturing sector, which grew by 2 percent. This increase was a positive sign for the sector, reflecting robust production and manufacturing activities. On the other hand, the mining and construction sectors faced challenges, with mining contracting by 2 percent and construction experiencing a decline of 2.3 percent. These contractions contributed to a mixed overall industrial performance for the month.

Looking at the annual figures, Mexico’s industrial activity in June showed a 0.4 percent increase compared to the same month in the previous year, which was in line with the monthly growth rate but slightly lower than the 0.6 percent annual increase observed in May. Within this annual growth, the energy generation, transmission, and distribution sector stood out with a notable 3.5 percent increase, indicating strong performance in this area. The construction sector also saw a positive annual growth of 1.4 percent. These sector-specific performances illustrate the varied dynamics within Mexico's industrial landscape, highlighting areas of strength and sectors facing economic pressures.

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